Proposed revenue-recognition standard will impact gift-card accounting

06/3/2013 | JournalofAccountancy.com

The Financial Accounting Standards Board and the International Accounting Standards Board are working on a proposed revenue-recognition standard as part of the effort to create uniform accounting standards. The revenue-recognition standard will require the recognition of unused customer rights such as gift cards or gift certificates, commonly referred to as "breakage." This article addresses the aspects of the proposed standard that will affect gift-card programs.

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